Re: Is Bitcoin a Pyramid or Ponzi scheme & what are the ramifications?
Add Alex Jones to the growing lists of prominent Libertarians that say Bitcoin is a ponzi-bubble.
Alex is often over dramatic and sensationalizes everything, as well he is often too loose on the facts.
Nevertheless, he is very much correct in what he said in this video, in terms of the USA being dumbed down (ah I see my ACT and SAT qualified me for Mensa) with low IQ races, violent races, eugenics, and feminism then mind programmed (by TV, propaganda, constant video stimulation, and Stupid U state schools) into zombie society of feminine "males" and asexual females. Note the aforementioned links are James A. Donald's blog-- the first person who communicated on the cryptography discussion group with Bitcoin's creator Satoshi. A smarter guy, Eric S Raymond, the creator of "open source", who thinks women who shoot are sexy, blogged on the failure of feminism.
Alex Jones (as well as Henry Blodget, Gary North of Mises Institute, etc) is correct about Bitcoin being a ponzi-bubble and also the role it could play in destroying crypto-currencies. I have documented those two points extensively, just click my name and "Show Posts" and read the last 2 weeks of November 2013 archive of my posts. Then you will become much more knowledgeable than you.
Of course, most readers are in that zombie "get rich quick" state-of-mind, their brain is zapped with dopamine spikes, and their pre-frontal cortex has shut down as a result, thus they will totally ignore my post and not read the evidence and logic in my archived posts.
Gonzalo Lira explains why anonymity is so important but Bitcoin doesn't have it.
Data taken from http://blockchain.info/charts
In the past 60 days bitcoin market price has increased by 8000%. If the cause of increase was widespread adoption of bitcoin as a currency, people would be making transactions. The number of transactions would increase by a similar percentage taking it to around 300000 transactions per day. The current number of transactions is around 75000 per day.
My take from the data is that bitcoin is in a massive speculative bubble. People are hoarding and not using bitcoin as a currency.
In a new Video Alex jones stated that he believes crypto currency is the way of the future, however Bitcoin specifically is a creation of the NWO global elites due to its shadowy origins and is just a bubble that will ultimately fail. He also advises against investing in it.
It's unfortunate in my opinion that he decided to take this stance on Bitcoins, as he's one of the most popular Libertarians out there with 10's of Millions worldwide followers which could've helped Bitcoin in terms of promotion.
http://www.youtube.com/watch?v=WCgkCBvODl8
It's unfortunate in my opinion that he decided to take this stance on Bitcoins, as he's one of the most popular Libertarians out there with 10's of Millions worldwide followers which could've helped Bitcoin in terms of promotion.
http://www.youtube.com/watch?v=WCgkCBvODl8
Alex is often over dramatic and sensationalizes everything, as well he is often too loose on the facts.
Nevertheless, he is very much correct in what he said in this video, in terms of the USA being dumbed down (ah I see my ACT and SAT qualified me for Mensa) with low IQ races, violent races, eugenics, and feminism then mind programmed (by TV, propaganda, constant video stimulation, and Stupid U state schools) into zombie society of feminine "males" and asexual females. Note the aforementioned links are James A. Donald's blog-- the first person who communicated on the cryptography discussion group with Bitcoin's creator Satoshi. A smarter guy, Eric S Raymond, the creator of "open source", who thinks women who shoot are sexy, blogged on the failure of feminism.
Alex Jones (as well as Henry Blodget, Gary North of Mises Institute, etc) is correct about Bitcoin being a ponzi-bubble and also the role it could play in destroying crypto-currencies. I have documented those two points extensively, just click my name and "Show Posts" and read the last 2 weeks of November 2013 archive of my posts. Then you will become much more knowledgeable than you.
Of course, most readers are in that zombie "get rich quick" state-of-mind, their brain is zapped with dopamine spikes, and their pre-frontal cortex has shut down as a result, thus they will totally ignore my post and not read the evidence and logic in my archived posts.
Gonzalo Lira explains why anonymity is so important but Bitcoin doesn't have it.
Quote
Also, actually acquiring bitcoins is remarkably complexand completely negates the supposed anonymity of bitcoin. Heres a Reddit editor discussing how tough it was for him to get bitcoins, which is fairly typical of retail customers: A whole lot of hassles, and he still couldnt buy any. And for all the talk of bitcoins anonymity, you need a whole truckload of verifiable documents making clear who you are in order to buy your first bitcoin. So the bitcoin-anonymity argument is a chimera.
The failure to meet that conditionbuy or sell exclusively and necessarily with bitcoinis what makes bitcoin essentially useless.
The failure to meet that conditionbuy or sell exclusively and necessarily with bitcoinis what makes bitcoin essentially useless.
Data taken from http://blockchain.info/charts
In the past 60 days bitcoin market price has increased by 8000%. If the cause of increase was widespread adoption of bitcoin as a currency, people would be making transactions. The number of transactions would increase by a similar percentage taking it to around 300000 transactions per day. The current number of transactions is around 75000 per day.
My take from the data is that bitcoin is in a massive speculative bubble. People are hoarding and not using bitcoin as a currency.